To buy or not to buy?

ViktorAlkious

Hey guys new to the forum I've been thinking about trading in my 08 accord coupe for a brand new 2010 370ZR the local dealership has. They have had the car for about 3 years and it has about 800 miles on it i'm guessing due to test drives.

I spoke to a car salesman yesterday and test drove it and it's freaking awesome compared to my accord. I've been wanted to get rid of it for awhile as I bought it when I was home for R&R from Afghanistan and after being home since September I realized the I4 just wasn't enough power or fun for me I feel like driving is bland and is just way to boring. Also customization options are limited so I feel like it was just a bad fit for me.

I'm just wondering if it is worth it. I can pay the monthly payment at almost 700 a month @4.59% for 72 months but they will only give me 10k for my trade in when I've seen my car sell for 19k (price I bought it) it was a real steal KBB says I should get at least 14k and Nissan sent me a little offer saying I could get 14k-16k to trade it in about a week ago.

I'm just worried that down the line a few months from now I'll get bored of it so I just wanted to get a few opinions of if I should just wait and save up and buy it later or if its really worth more or less starting for with nothing as far as debt payments this is the only major debt I pay have a gf but my income is going to be steady and I have very few expenses.

nmjaxx9

Welcome! Let me start off by saying that the Z is definetley a step up from an accord. It def has a larger aftermarket parts scene, and leave it stock and you will still find it very enjoyable for daily driving use. I don't think you will get bored or tired of this car anytime soon. I have had mine for close to 7 moths now, and I love it like the first day I bought it.

Now, the only thing that concerns me is you seem to be paying a very high interest rate, and monthly payment. If you can pay that much a month, and are satisfied with the apr % rate, then I don't see a problem here. However, I think thats kind of high, ,maybe you should shop around to get a better deal? Just my advice, as for your real concern about getting bored of it soon, im sure you won't but I think maybe you need to concentrate on cutting down the price of the vehicle, and possibly the monthly payments/apr.

ViktorAlkious

Roger that we have a few Nissan dealerships in the local area I know they're itching to get rid of this car cause most people coming in that want a Z want the 2012 model. My monthly payment and apr % is main due to the fact that I have little credit so my dad is required to be a cosigner I'm sure if I go back with him we can negotiate they want 36,470 for the car would it be possible to in your eyes to haggle the trade in price or price of the car to possibly lower the monthly payment? I'm not to sure if I would be able to lower the apr % with any other dealer just due to age and credit score.

nmjaxx9

Yes! There is def room for negotiation. 36K I think is a little on the high side for a 10' anyways. I got my 2011 base red Z for 36k OTD (out the door) that included taxes, title, registration and fees. If the Z has been sitting on the lot for a while there is a chance the dealer is more willing to negotiate with you on the price. It def helps to have your Dad go in with you. As for the trade in value im pretty sure that will be constant, have you had your accord appraised by them yet? Or they just gave you a rough estimate?

vividracing

If you get bored with a 370Z, you're doing something wrong. Also, don't focus so much on the monthly payment... Focus on the total price paid OTD.

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ViktorAlkious

The dealer wants 36,470 thats with a 6,500 off if I finance with them I understand that its a new car as far as never been owned but I feel like I would be better off buying a 2012 or buying used. The salesman took a brief walk around and looked inside the drivers side of my car then when we were sitting down when he was giving me a quote he told me 10,250 for my trade in and used what I paid on the car as a down payment so I wouldn't have to pay anything out of pocket. I was wondering if I could get the price down to about 30k that said the car has 700 some miles on it he's giving me the car for the weekend today so I'll be able to show my dad and see his opinion of the car.

nmjaxx9

What is the trim of the car? Sports? Touring?

So with a trade in im guessing you will be paying around 26,000, or financing that amount correct?

mz3035

I paid 26k for mine.. My interest rate is 3.9 (used car) over 72 mos and I pay 450.. 700 seems really high...

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-'14 Silver BMW 535i M -Sport
-'06 Black Evo IX MR SE. 406whp,452wtq (Sold)
-'09 Silver Nissan 370z Touring (Sold)

Volk Z

Amen to that! You said they would give you 10K for your car... I did 20K at 6 years (72 months) @ 4.59 and the payment is $318

Also if your car truly is worth 14-15K for a trade in value then its all in the negotiation and if the dealer wants to sell a car.

I didnt really read to see exactly what model you are looking at but a 2010 even though its "new" at a dealer has depreciation as 2012s are out and soon 2013s will be out....

I would throw out this offer... this is going off all you told me

Asking $36,000
your trade $10,000
You say your trade is worth $14-$15,000

Deal to ask for OUT THE DOOR (this is without taxes as i dont know what your state has for % rates)
$20,000 out the door with your trade. This is them meeting you halfway for your trade and knocking off the couple thousand they mark the car up.
**All going off your original numbers they gave you.**

ALWAYS TALK the final price out the door (try and figure out taxes too)

Ive purchased and traded cars and work the entire deal over the phone, work only the out the door price.

Good luck

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ViktorAlkious

Well the car is sitting in the drive way with a car cover on top of it till I show my dad in the morning or he comes in 3 am asking where the hell it came from. @nmjaxx9 it is a touring package I believe has the climate control seats xm radio and what not. I will be financing about 30k because I still owe money on my current car but he explained that the equity that I have on it can be used towards the 370. I'm gonna go tomorrow with my dad and see if we can get them to give me more otherwise once I get on orders I'll just save up for a down payment and go back in x-mas time and maybe things will be more favorable.

On another note I did look at a used 09 nismo today before I picked this one up way cheaper can get it for 18k they will give up 12k for my car as trade in but its last owner did a few audio mods him self and drove it pretty good so it drove really shitty kinda shook after I took it on the highway it just seems like he messed it up kinda sucks because I would be more than willing to do the nismo as well especially at a cheaper price.

Edit: I spoke to a service mechanic also because the car ran a little hot (around 220F) after some city driving he told me they originally wanted 42k so I'm gonna ask for invoice just to get an idea of if they're loosing money already so I can see how much more negotiable the price is.

nmjaxx9

Yeah the Zs do run a little hot, oil temp issue. I would say go into the dealership tommorow and as Volk Z said try to talk OTD price. How much you will may out the door, and try to reduce the payments. IF it helps to have your Dad cosign to reduce interest rates or monthly payments do so. Good luck and let us know what happens.

bvl

Unless its a loaded ZR, I think that price is high. Yes its been untitled but its a 2+ year old car, with 800 miles on it. They sound like they are taking advantage of your age/lower credit if all you can get is 4+% on a loan (I refinanced my used load at 2.49% last year and its gone down .5 points since). If the deal is only in place if you finance with them I would walk, especially if you can get your own financing for less. Have that prepared ahead of time (pre-approved for say 30K at 2.9%).

They make you deal and offer, but they want 4.x%. Say the price (deal) is the same no matter what. If they can get you 2.9% financing then fine. Otherwise you use your own financing and you agree to the price (deal) of the car.

Separate sale price and financing. Always.

For reference I picked up my loaded ZR manual for 37.5 with 2400 miles on it about a year ago. I am surprised they never were able to sell it back when Nissan had 5+K incentives for Roadsters last year.

Now I picked mine up used which means they likely did not give someone more then 35K on trade, and still made money. For a new car, they are likely taking a loss at that number and may not want to move at all. Sucks but its the reality of the business.

Good luck,

- b

Thechidz

don't be concerned at all with trade in, be concerned with your price out the door OTD.

it sounds like they might be pricing the roadster high if it's 3 years old and the payments come to 700. I would think you should be able to get those payments closer to 550 for 72 months. however they have to finagle the deal to get your OTD price closer to say 33k then go ahead and jump. what options does it include btw?

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Thechidz

if your financing about 30k your payments should not be 700. my payments are 514 for 72 months and I financed 30k

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I <3 my car

6MT

Do it!

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Andrew

2009 370Z Sport/Touring 6MT sold
2013 Honda Civic Si coupe D/D